Gradient Investments LLC Sells 57 Shares of Deere & Company (NYSE:DE)

Gradient Investments LLC cut its holdings in shares of Deere & Company (NYSE:DEGet Rating) by 19.9% in the 2nd quarter, Holdings Channel reports. The firm owned 229 shares of the industrial products company’s stock after selling 57 shares during the period. Gradient Investments LLC’s holdings in Deere & Company were worth $69,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DE. JGP Wealth Management LLC grew its stake in shares of Deere & Company by 2.4% in the first quarter. JGP Wealth Management LLC now owns 1,127 shares of the industrial products company’s stock worth $471,000 after purchasing an additional 26 shares during the last quarter. Highland Private Wealth Management lifted its holdings in Deere & Company by 2.6% in the first quarter. Highland Private Wealth Management now owns 1,067 shares of the industrial products company’s stock worth $444,000 after buying an additional 27 shares during the period. Pinnacle Associates Ltd. lifted its holdings in Deere & Company by 1.0% in the first quarter. Pinnacle Associates Ltd. now owns 2,728 shares of the industrial products company’s stock worth $1,133,000 after buying an additional 27 shares during the period. Wilbanks Smith & Thomas Asset Management LLC lifted its holdings in Deere & Company by 0.7% in the first quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 3,761 shares of the industrial products company’s stock worth $1,465,000 after buying an additional 27 shares during the period. Finally, Cable Hill Partners LLC lifted its holdings in Deere & Company by 3.3% in the first quarter. Cable Hill Partners LLC now owns 843 shares of the industrial products company’s stock worth $350,000 after buying an additional 27 shares during the period. 75.34% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the stock. Morgan Stanley raised their price objective on shares of Deere & Company from $416.00 to $424.00 and gave the stock an “overweight” rating in a report on Sunday, August 21st. Cowen lowered their target price on shares of Deere & Company from $396.00 to $342.00 in a report on Thursday, July 7th. Cowen lowered their target price on shares of Deere & Company from $396.00 to $342.00 in a report on Thursday, July 7th. Oppenheimer lifted their target price on shares of Deere & Company from $365.00 to $415.00 in a report on Monday, August 22nd. Finally, Bank of America lifted their target price on shares of Deere & Company from $335.00 to $381.00 in a report on Sunday, August 21st. Seven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $407.68.

Insider Buying and Selling

In other Deere & Company news, CAO Marc A. Howze sold 4,019 shares of the business’s stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $373.22, for a total transaction of $1,499,971.18. Following the completion of the sale, the chief accounting officer now directly owns 17,321 shares in the company, valued at approximately $6,464,543.62. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.24% of the stock is owned by corporate insiders.

Deere & Company Price Performance

NYSE DE opened at $355.59 on Wednesday. Deere & Company has a one year low of $283.81 and a one year high of $446.76. The stock has a 50-day moving average of $348.43 and a 200 day moving average of $363.09. The company has a market capitalization of $107.32 billion, a price-to-earnings ratio of 17.77, a PEG ratio of 1.23 and a beta of 1.06. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.68 and a current ratio of 1.97.

Deere & Company (NYSE:DEGet Rating) last released its quarterly earnings data on Friday, August 19th. The industrial products company reported $6.16 EPS for the quarter, missing the consensus estimate of $6.61 by ($0.45). Deere & Company had a return on equity of 33.26% and a net margin of 12.75%. The business had revenue of $13 billion during the quarter, compared to the consensus estimate of $12.84 billion. During the same quarter in the previous year, the business posted $5.32 earnings per share. Deere & Company’s quarterly revenue was up 24.8% compared to the same quarter last year. On average, sell-side analysts forecast that Deere & Company will post 22.94 EPS for the current year.

Deere & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 8th. Investors of record on Friday, September 30th will be issued a $1.13 dividend. The ex-dividend date of this dividend is Thursday, September 29th. This represents a $4.52 annualized dividend and a yield of 1.27%. Deere & Company’s payout ratio is 22.59%.

Deere & Company Profile

(Get Rating)

Deere & Company manufactures and distributes various equipment worldwide. The company operates through four segments: Production and Precision Agriculture, Small Agriculture and Turf, Construction and Forestry, and Financial Services. The Production and Precision Agriculture segment provides mid-size tractors, combines, cotton pickers and strippers, sugarcane harvesters, harvesting front-end equipment, sugarcane loaders, pull-behind scrapers, and tillage and seeding equipment, as well as application equipment, including sprayers and nutrient management, and soil preparation machinery for grain growers.

Featured Stories

Want to see what other hedge funds are holding DE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Deere & Company (NYSE:DEGet Rating).

Institutional Ownership by Quarter for Deere & Company (NYSE:DE)

Receive News & Ratings for Deere & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Deere & Company and related companies with MarketBeat.com's FREE daily email newsletter.